Sat, Jul 30, 2016
A A A
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Industry Updates

Pacific Investments sells Thames River Capital to F&C but retains its holding in Nevsky Capital

Wednesday, April 28, 2010
Opalesque Industry Update - Pacific Investments PLC (Pacific) and its affiliated company Red River Capital today announce the conditional sale of Thames River Capital (TRC) to F&C Asset Management for a cash consideration of up to £53.6 million (US$81.5m).

Pacific founded TRC with its management team in 1998 and the company has since grown to become one of Europe’s leading multi-strategy asset management businesses.

Excluded from the sale is Nevsky Capital, which is currently an affiliate of TRC. Prior to completion of the sale, TRC’s interest in Nevsky Capital LLP will be demerged and will, thereafter, be directly held by Pacific and the other current TRC shareholders. Nevsky has approximately US$6 billion in assets under management in both long only and long-short strategies. The support services currently provided by TRC to Nevsky will continue unchanged and be unaffected by this transaction.

Sir John Beckwith, Chairman of Pacific Investments, said: "This has been a rewarding investment with the development of two highly regarded asset management businesses, Thames River Capital and Nevsky Capital. F&C will be a good partner for Thames River."

The income generated by both TRC and Nevsky, together with the sale of TRC to F&C has produced a 72% IRR to Pacific over the 12 year period, excluding the remaining value of Nevsky Capital.

Pacific will continue to develop its existing portfolio of fund management businesses, including River and Mercantile Asset Management, the UK and Global equities fund manager, which has grown to manage assets in excess of £1.2 billion since inception in 2007; Pacific Real Estate Capital Partners which was launched in 2009, as a global real estate investment vehicle; and its new wealth management business.


Pacific Investments was established by Sir John Beckwith and Mark Johnson in 1993 following the sale of London & Edinburgh Trust PLC for £510 million by Sir John and his brother Peter. Pacific has founded and financed a number of highly successful fund management businesses including Thames River Capital, River and Mercantile Asset Management, Liontrust Asset Management, Europa Capital Partners, Pacific Real Estate Capital Partners, Alpha Real Capital and Portfolio Holdings which together manage over US$20 billion of assets on behalf of institutional, high net worth and retail investors.

Thames River Capital , based in London, was formed in 1998 by a group of senior investment professionals with a common goal: the creation of a performance focused, absolute return orientated, integrated fund management business. The company offers both traditional and alternative strategy investment management for sophisticated and professional investors, through a number of single and multi-manager funds. TRC and its affiliates employ 168 staff and have US$13.6 billion under management.


Bg

What do you think?

   Use "anonymous" as my name    |   Alert me via email on new comments   |   
Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

 



  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Opalesque Exclusive: California-based manager launches long/short equity hedge fund with unique algorithm[more]

    Benedicte Gravrand, Opalesque London for New Managers: SJL Capital LLC, an investment advisory firm based in California, has launched its maiden fund, the SJL MarketDNA Hedge Fund LP. The fund, which began trading

  2. Manny Roman to move from Man to Pimco[more]

    Benedicte Gravrand, Opalesque London: Emmanuel (Manny) Roman, an investment world veteran, has been hired by PIMCO, the large US bond fund house, as chief executive officer. PIMCO's current CEO Douglas Hodge will assume a new role as managing director and senior advisor when Roman joins P

  3. HFR: Hedge funds post strong gains in mid-July as markets recover from Brexit losses[more]

    Komfie Manalo, Opalesque Asia: Hedge funds posted strong gains through mid-July as the equity markets continued the recovery from Brexit losses. The HFRX Market Directional Index gained +2.17% (+4.22% YTD) and the HFRX Global Hedge Fund Index gained +1.03% through mid-month (+0.19%

  4. News Briefs - Carlyle goes on trial for a financial-crisis meltdown, Private equity and venture capital outperformed public markets in 2015, Pippa Middleton gets engaged to hedge fund manager James Matthews[more]

    Carlyle goes on trial for a financial-crisis meltdown Carlyle Group co-founder Bill Conway was in court on this small island last week recounting one of the most bruising episodes in his private-equity firm’s history: the 2008 collapse of mortgage-bond fund Carlyle Capital Corp. Carlyle

  5. …And Finally - Two men fall off cliff playing Pokemon Go[more]

    From BizarreNews.com: Two men who fell from a seaside cliff north of San Diego told authorities they became distracted while playing augmented reality game Pokemon Go. Encinitas fire Battalion Chief Robbie Ford said one of the men fell about 50 feet down the bluff in Encinitas while the other man fe